MacarthurCook Property Securities Fund
reported a 22 per cent decrease in distributable income to $3.6 million due to a decline in property income and values. The fund’s strategy of “redeem[ing] its investments in the unlisted property funds and syndicates when the opportunity arose" was difficult to achieve, fund manager Michael Goldman said. But the group successfully divested MacarthurCook Industrial Property Fund during the year. The fund is looking to reduce its debt over 2012 through asset sales and equity raisings.Lisa Carapiet